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03 December 2023

Abu Dhabi Financial Group lifts stake in GFH to 10%

By Reuters

The capital markets arm of Abu Dhabi Financial Group (ADFG) has raised its stake in Dubai-listed GFH Financial Group to 10 per cent, ADFG said on Wednesday.

Integrated Capital's stake was 7.4 per cent previously, data from the Dubai Financial Market shows.

Bahrain-based GFH, an Islamic investment bank, is among the most traded stocks on Dubai's bourse. The shares have gained 41 per cent since the end of November, while Dubai's index  fell 4.4 percent over the same period.

ADFG has about $3.2 billion in assets under management, its statement said.